"Increasing demand for more reliable and accurate weather forecast is a major factor driving the weather forecasting services market globally''The weather forecasting services market is projected to grow from USD 1.10 billion in 2016 to USD 1.56 billion by 2021, at a CAGR of 7.15% during the forecast period. Factors such as rapid industrialization, growth in transportation (aviation and shipping), and constant measures to reduce greenhouse gas emissions, and increase in production of clean energy (renewable energy) are influencing the growth of the weather forecasting services market. Main functions of weather forecasting services include issuing disaster warnings, giving information to optimize operations, and increasing the efficiency of industries, which extensively rely on weather for operations. However, aspects such as complex process of forecasting and uncertainty of forecasts may limit its market growth.

"Based on industry, the renewable energy segment is expected to grow at the highest CAGR during the forecast period"Based on industry, the renewable energy segment is projected to grow at the highest CAGR during the forecast period. Governments are deploying renewable energy power plants efficiently to supplement energy requirements of countries, thereby reducing emission of greenhouse gases and contributing to clean energy. These factors have fueled the growth of renewable energy industries. "Based on forecast type, the medium range segment is expected to grow at the highest rate during the forecast period"Based on forecast type, the medium range segment is projected to lead the weather forecasting services market during the forecast period. New developments such as advance data analytics and machine learning techniques of computers have increased accuracy and reliability of forecasts over medium range. These technological advancements have fueled the growth of the weather forecasting services market for medium range.